Two days of wrangling and no deal on anything
When delegates to the 60th ministerial session of the Organization of Petroleum Exporting Countries gathered in Geneva's Intercontinental Hotel last week for the group's spring conference on pricing and production strategies, the rifts dividing the world's oil producers were deeper than ever. Global demand for OPEC'S sky-high-priced product is now weakening in markets everywhere, and stockpiles are steadily swelling. The result is that oil prices in some places are actually declining. But despite the softening oil market, the 13 oil ministers last week were unable to agree upon the one tactic that petroleum-consuming...
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